"The expected acceleration in March inflation is not broad-based demand pressure. It is almost entirely an energy story, heavily driven by gasoline and other energy-related prices that have surged to multiyear records due to supply shortages following the U.S.-Iran war."
"West Texas Intermediate futures are hovering just below $97 a barrel, and the Strait of Hormuz remains a chokepoint: only eight ships crossed the strait Thursday, far below the usual 135."
"Equity indices have recovered sharply from their late-March volatility spike, with the SPDR S&P 500 ETF Trust gaining about 4% over the past week and the S&P 500 rising in seven consecutive sessions with a 7.6% gain."
The CBOE Volatility Index is at 19.5, with the March CPI report expected to show a 0.9% monthly and 3.3% annual increase. This rise is largely due to surging energy prices, particularly gasoline, influenced by supply shortages from the U.S.-Iran conflict. West Texas Intermediate futures are near $97 a barrel, and the Strait of Hormuz is experiencing reduced shipping traffic. Despite a fragile ceasefire, energy prices remain volatile. Equity indices have rebounded, with the S&P 500 and Nasdaq showing significant gains over the past week.
Read at 24/7 Wall St.
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